Under the terms of the offer, Orbis would take over all of the Group’s operations in the region, including in Poland, Hungary, the Czech Republic, Slovakia, Romania, Bulgaria and FYRoM.
As part of the process to reorganize its Central and Eastern European operations, Accor submitted an offer to Orbis, a public company listed in Warsaw and 52.7% held by Accor, which would reinforce their existing partnership to make the Polish company its management platform for Central and Eastern Europe.
Under the terms of the offer, which was approved by Accor’s Board of Directors, Orbis would take over all of the Group’s operations in the region, including in Poland, Hungary, the Czech Republic, Slovakia, Romania, Bulgaria and FYRoM.
In addition, Orbis would have the capacity to develop all of Accor’s hotel brands in the region by exploiting a master license for all of the Group’s brands. Accor is inviting Orbis to acquire its operating subsidiaries in these countries. They include 38 existing hotels and 8 hotels currently in the pipeline. Of the 46 hotels in the portfolio, 11 are owned, 17 are leased, 11 are managed and 7 are franchised.
The amount of the considered transaction is €142 million. The offer provides for an exclusivity of negotiations until the end of November 2014. It is submitted to the approval of Orbis’ Supervisory Board.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
